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Arthur J. Gallagher & Co. on Friday said it has acquired Oakbrook, Illinois-based R.J. Riordan & Co.
Terms of the transaction were not disclosed.
R.J. Riordan & Co. is a retail property/casualty broker serving clients in the Chicago region and specializing in the construction and transportation industries.
Riordan’s five employees will relocate to Gallagher’s retail brokerage operations in Rolling Meadows, Illinois, under J. Ryan Isaacs, head of Gallagher’s Midwest retail property/casualty brokerage operations.
J. Patrick Gallagher Jr., chairman, president and CEO, said the deal gives the broker growth opportunities in the construction industry.
Aviation rates continue to stabilize, with conditions “more positive” for buyers this year than they have been for some time, according to A.J. Gallagher & Co.